OTHERS BRAHIM’S HOLDINGS BERHAD (“BHB” OR THE COMPANY”) DEFAULT IN PAYMENT PURSUANT TO PARAGRAPH 9.19A OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD

We refer to the previous monthly announcements in relation to BHB’s default in payment in its banking facilities.

The Board of Directors of the Company (“Board”) wishes to inform that save as disclosed below, there are no material developments on the status of default in payment at the date of this announcement:

(i) The Company had on 27 July 2021 and 28 July 2021 announced that it had entered into an agreement with MHC Trading (M) Sdn Bhd (“MHC”) for the proposed outsourcing of management and operations of Tamadam Industries Sdn Bhd (“Tamadam”), a wholly owned subsidiary of the Company (“Proposed Outsourcing”) (“Announcements”). The Company had received a proposal from MHC to turn around and grow the business of Tamadam in view of Tamadam’s existing operational inefficiencies. Based on this agreement, the profits generated from Tamadam will initially be used for the full repayment of BHB’s overdue loan with OCBC Al-Amin Bank Berhad (“Bank”), of which the outstanding amount as at 27 July 2021 is RM75 million, based on a stipulated repayment schedule as mentioned in the Announcements within 3 years. Nonetheless, it should be noted that the repayment will be undertaken on a best efforts basis by the new management of Tamadam, and no guarantee will be provided. In addition, this repayment proposal is also subject to the agreement of the Bank. Please refer to the Announcements for further information on the Proposed Outsourcing.

This announcement is dated 2 August 2021.